Minister of State for Electronics and IT Rajiv Chandrashekhar said on Monday that India will consume about $70-80 billion worth of semiconductors to manufacture electronics products worth $300 billion by 2026, in line with the government’s vision.
Chandrashekhar says the government will achieve the target of setting up semiconductor Ecosystem in India based on interest from all over the world.
He was speaking on the eve of announcing the first conference on setting up a semiconductor ecosystem in the country – Semicon India 2022 – which is expected to attract semiconductor leaders from across the world.
He said, “Demand for digital devices and electronics products is only increasing. If you look at our Electronics Vision document, we have announced a target of $300 billion in electronic manufacturing with $120 billion in exports. Our consumption, Based on $300 billion. Electronics (production target by 2026), about $70-80 billion will be semiconductors.”
Notably, under the Semicon India programme, the government has received proposals from five companies with investments to set up electronic chip and display manufacturing plants. 1.53 lakh crore.
Semicon India event encouraged to the tune of 76,000 crores.
According to the report, companies such as Vedanta Foxconn JV, IGSS Ventures and ISMC have submitted proposals to set up an electronic chip manufacturing plant with an investment of $13.6 billion. He has sought $5.6 billion support from the government. 76,000 crore program.
In addition, Vedanta and Elest have proposed an estimated investment of $6.7 billion to set up display manufacturing units – used in mobile phones, laptops, etc. He has sought $2.7 billion support from the government to set up the display fab under the plan. India.
The minister said the applications are being processed at this time and declined to provide an estimated time frame for their approval.
Prime Minister Narendra Modi will inaugurate the first Semicon India 2022 conference on 29 April 2022 at 11 am in Bengaluru.
Chandrashekhar said that Semicon India – 2022, a 3-day conference, is being organized to take forward PM Modi’s vision, which is to make India a leader in electronics manufacturing, semiconductor design, manufacturing and innovation.
Chandrashekhar said that the vision of the PM is to make India an important player in the global semiconductor value chain. He said that for the first time in the last 75 years, rapid decisive steps have been taken in this area. The Semicon India 2022 conference will attract the best of people from across the world from the semiconductor industry, research and academia and will act as a major step in fulfilling the Prime Minister’s vision of making India a global hub for electronics manufacturing and semiconductor industry. .
Ministry will organize Semicon India 2022 conference at ITC Gardenia, Bengaluru from 29th April to 01st May 2022.
The conference will serve as the first in a series of road shows to be organized by the Ministry of Electronics and Information Technology. Global experts from industry and academia involved in semiconductor design and manufacturing and leading government representatives are invited to participate in the event.
According to the ministry, the India Semiconductor Mission (ISM) has been set up as an independent business division within Digital India Corporation to develop India’s long-term strategy to develop semiconductors and showcase manufacturing facilities and semiconductor design ecosystem. Has administrative and financial autonomy to operate and operate. Led by global experts in the semiconductor and display industry, ISM will act as the nodal agency for efficient, consistent and smooth implementation of the schemes.